DEAL SHEET · W20 · MAY 16, 2026 |
Roots Fam 🌱
I know, I know, I finally missed a week of sending deals out. It was for good reason though: I was busy moving into a new house.
We made an intentional decision to move closer to where we work and play. I was commuting an hour both ways every single day, and it started to wear on me as I grow a family, grow a real estate team, and invest in real estate myself. Now I live within five miles of every property that I own, sell, and help people buy, and it truthfully has been a game changer for me. I'm so excited to use this place as sacred grounds to raise the family and pour back into the places that I work, live, and play. Here's to new beginnings, and the month of May in Indy is all about speed, so let's get right into the action. |
This Week on the Roots Podcast
Most people sit on $50K and wonder when the "right time" is. This week's episode IS the right time, broken down in plain English.
The 3-step blueprint:
1. BRRRR a fixer. Buy a beat-up house for $130K, put $50K into the rehab, and refinance based on the new $200K value. You walk out owning a rental that produces $1,700+/mo, and you've only got $18,000 to $20,000 of your own cash left in the deal.
2. Flip a house to refill the bank. Buy at $120K, fix for $30K, sell for $200K. After fees, you walk away with around $30K in pure profit, and your savings is back to where it started.
3. Close on a turnkey rental. A property already renovated, already leased at $1,225/mo. Put 25% down (about $25K), get a loan for the rest, and cash flow from day one.
End of year: 2 rentals making about $600/mo combined, $60K+ equity built, only $15,000 to $20,000 of your original cash left in deals, and $25K still in the bank to do it again next year.
★ Featured Deal #1 · Cash Flow Triplex in Fountain Square 522 Prospect St Fountain Square · Triplex · Active MLS · $375,000 Two blocks from the Cultural Trail. Four from the cultural district. Fountain Square has been one of Indy's strongest demand pockets for a decade and it is not slowing down. 522 Prospect is a recently updated 1923 triplex right on the corridor, and two of the three units are already leased, which means day-one income on day-one of ownership. At list the math works. Stabilized rent rolls in at $4,040/mo across all three units, cash flow pencils +$482/mo (about 7% cash-on-cash) at 20% down, 7%, 30yr. Cash to close lands around $78,750. This is the rare on-market triplex where the numbers and the location both work. For the buyer who wants options on the table: this property previously ran as an Airbnb with average monthly revenue around $6,500. We are not underwriting on that number, but the upside ceiling is documented. Long-term, mid-term, or full STR are all viable. Honest pre-contract note, the parcel reads single-family per the assessor while operating as 3 units, so a call to DMD is the right move before going under contract.
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★ Featured Deal #2 · Turnkey 5BR for the Long Hold 7800 S Mooresville Rd, Camby IN 46113 Camby / SW Indianapolis · SFR · 5 Bed / 2 Bath · $255,000 · Off-Market This one is not a cash flow deal at full ask, and that is the point. Completely renovated with Class-A finishes and everything new from floor to roof: floors, paint, kitchen, bathrooms, siding, windows, AC, new porch, new deck. The comp range in the immediate area runs $250K to $331K, so you step into walk-in equity from day one. Where this deal earns its slot is the tenant story and the long horizon. SW Indianapolis pulls strong, long-term renters who stay, and a 5-bedroom in this submarket is rare. The play is to lock in good tenants for the long haul, let the property appreciate, and build wealth on the back of equity growth and rent inflation rather than Year-1 cash flow. For the investor who wants a 10-year hold and a calm operation. Sourced through Frankie Hernandez at @properties Indiana. Full breakdown linked below, reply for access to the photos.
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Partner · Mamba Mortgage Jared Shore founded Mamba Mortgage in Indianapolis; specializes in investor lending. Jared is one of our absolute go-tos for investment properties. He never lets us down!
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★ Featured Deal #3 · The Conjoined Twins of Fountain Square 1119 + 1123 S Randolph St Fountain Square / Bradleys Prospect · Active MLS · Paired Listing · $528,000 stacked Same block. Same owner. Two 1920 bungalows that have been operated as a business for years, not as set-and-forget rentals. List $528,000 combined ($249,000 and $279,000). Buy one. Stack both. Here is the angle that took us a minute to figure out. If you only look at the Zillow Rent Zestimate, the long-term-rental math on these is rough. Both deals pencil deep negative at conservative LTR assumptions. That is because the seller was not running them as long-term rentals. She was running them as a business, renting by the bedroom, treating each property as a hospitality asset. The trailing 12-month rent roll she just shared shows the real numbers:
Combined: $68,372/yr on $528K of real estate. 12.95% gross yield. Combined cash flow at actual operating income is roughly breakeven (+$41/mo) with appreciation on top. Buy just the Orange House and step into +$238/mo cash flow at actual operating income, with $52K of cash to close. Stack both and net to flat on cash flow while owning two appreciating Fountain Square bungalows on the same block. Same owner means clean diligence on both, and the income statements are real.
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Partner · Off Leash Construction Nick Giulioni leads Off Leash Construction alongside Paul Aguiar, and also runs Off Leash Investments. A great GC company — and their AI quote tool gets you a number in minutes.
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★ Featured Deal #4 · Fair-Priced Eastside 3BR 8247 Patton Dr, Indianapolis IN 46226 Lawrence Township · SFR · 3 Bed / 1 Bath · $160,000 · Off-Market Ready to rent today, or level up with a light value-add play to lift the rent. Previously tenanted at $1,500/mo, which lines up with the rent comp set in the immediate area. At full ask the math pencils about -$183/mo on Roots-standard assumptions, which is a near-breakeven entry with real room for upside the moment you push rent or do exterior updates. The pitch is a fair entry price for what you are getting: a stable Lawrence Township tenant pool, a property that needs no work to start producing, and enough margin to make moves. For the new investor who wants a small ticket and a low-friction first deal, or the seasoned investor adding another door without taking on a rehab project.
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Partner · Indy Homes Reborn
Indy Homes Reborn is a wholesale operation — Tony Boutros and his team bring Roots investors access to off-market Indianapolis deals you won't find on the MLS. Want first look at off-market inventory? Tony's your guy.
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★ Featured Deal #5 · Six Doors Under One Roof 3527 N College Ave Mapleton-Fall Creek · 6-Unit Stabilized · $905,000 · Active A stabilized 6-unit on the College Ave corridor. Full occupancy. All six units are 2-bedroom, roughly 909 sqft each. Tenants pay utilities. Gated parking included. Rents currently run $1,300 to $1,350 per unit, which puts gross income in the $94K to $97K range across the building. Day-one cash flow at $905,000 asking, no value-add work needed to get there. This is the deal for the buyer ready to scale from the single-family game into small multifamily without taking on the operational lift of a true commercial deal. Mapleton-Fall Creek has been one of Indy's strongest appreciation submarkets over the last five years and is showing no signs of slowing. Tyler had this on his Indy Investor Update this week, worth a serious look.
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Roots Property Management Co. Roots recently acquired the best PM company in Indy to form Roots PM Co. Hayden Steger of Property Partners Indiana is the JV Operations Partner — he's on top of his game and truly so good at what he does. For Roots clients, he's the only option for property management.
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The historic deal database lives in our Deal Send Sheet, a running spreadsheet of every deal we've analyzed. Want access? Reply to this email. |
LAST: We Need Some Major Help to Pull This Off...
Help us get to 777 volunteers.
26 rally points across Indianapolis. 8 to 10 AM. Bring a friend, bring a kid, bring gloves if you've got them. It's the easiest two hours you'll spend making the city look better.
Up next for Roots
If you want to meet the team in person, here's where we'll be.
Coffee & Connect with Roots
7:30 to 9 AM at Outwork Indy. Panel with Max, Tyler, and Ethan Fernhaber on Indy Street Sweep prep. Coffee, Chick-fil-A, community.
RSVP →Roots Street Sweep #5 · Fountain Square
8 to 10 AM at 1032 Virginia Ave. We bring the supplies, you bring two hours. All ages welcome.
Grab a Bag →Summer Real Estate Masterclass
6 to 8 PM at Guggman Haus Brewing. Free panel + Q&A with local operators, plus networking. 150+ attendees expected.
Tickets →That's the week, Roots Fam.
Five real deals on the menu: a Fountain Square triplex, a turnkey 5BR for the long hold, a paired bungalow business, a fair-priced Eastside SFR, and a stabilized 6-unit on College Ave. Pick the thesis that matches your strategy and let's get to work. Reply to this email if any of them are a fit. We move fast.
Keep building,
Max Moore
Roots Realty, Indianapolis
P.S. We've sold 11 homes so far this year for our sellers using this newsletter. If you're looking to sell, consider replying back to this email to be on an upcoming feature. We have thousands of investors receiving deals every week.
As always, plant roots, build wealth.
